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Unclaimed Money: Wisconsin woman gets $244,000

By
Services for Real Estate Pros with Immediate Home Solutions

A woman from La Crosse, Wisconsin received nearly $244,000 from unrealized, uncashed bonds that were forgotten and lost which she held jointly with her now deceased husband.

 

The woman, 81 years old had no idea that her husband owned a number of municipal bonds, which went to the state after his death.

 

Because of the dollar size, state officials tracked the woman down and contacted her, "It was such a large amount of money that our office contacted her," said Ron Giordan, a spokesman for the state treasury.

 

The woman declined to comment.

 

The state of Wisconsin currently has about $403 million in unclaimed assets, Giordan said. The money can come from any number of sources, from shopping rebates to paychecks from former employers.

 

Older residents who lose track of their assets are less likely to realize it exists, unnoticed, held by the state, officials said.

 

Most of the elderly don't know about the online tools available for tracking down misplaced funds, or are less inclined to use the technology because they don’t understand it or don’t know whether to believe it or not.

 

Other times, they shy away from asking for their money because they feel like they have done something wrong, Giordan said.

 

"You find a lot of people are embarrassed they lost their own money," he said. "We tell people, it's not embarrassing. It's not your fault you lost it."

 

Commonly, most of the state's holdings are made up of a multitude of smaller claims.

 

Fairs and events help the state reach out people like the La Crosse woman, who might not know they have so much money going unclaimed.

 

"We go out and do outreach events," Giordan said. "We try to do everything we can to return that money.

 

Some examples of unclaimed property currently held by the treasurer’s office include: money in inactive savings and checking accounts; unpaid wages or commissions; stocks, bonds and mutual funds; money orders and bill overpayments; paid-up life insurance policies; safety deposit box contents.

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With Enthusiasm,

Jeffrey M. Richman

 

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